Apple reported its strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every region. The company posted revenue of $109.4 billion for its fiscal third quarter of 2026, up 16 per cent from a year earlier. However, the company also warned that growth could slow in the September quarter because of supply constraints. Apple expects revenue to increase between 9 per cent and 11 per cent in the September quarter, below Wall Street’s estimate of around 12 per cent. The earnings call was also Tim Cook’s final one as Apple CEO, with John Ternus preparing to take over.
iPhone revenue reached $54.3 billion during the June quarter, an increase of 22 per cent from the same period last year. Apple said the iPhone 17 series helped with the strong performance. The company also recorded its highest number of iPhone upgrades for a June quarter.
Cook said Apple continued to see “enormous customer enthusiasm” for its most product lineup. He added that the iPhone business achieved June-quarter records.
Mac sales were also strong. Revenue increased 29 per cent to $10.4 billion, supported by demand for the MacBook Pro and MacBook Neo. Services revenue rose 12 per cent to a June-quarter record of $30.7 billion. However, iPad revenue fell 6 per cent to $6.2 billion.
Also read: Apple expects slower growth despite strong iPhone sales, blames supply chain constraints
Apple expects September-quarter revenue growth of 9 per cent to 11 per cent. The company said foreign exchange changes could reduce its growth rate by around 2.5 percentage points. Supply shortages are also expected to become more serious. These issues will affect the iPhone, Mac and iPad.
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During the earnings call, Tim Cook addressed Apple’s recent price increases for Macs and iPads. He said the company raised prices “reluctantly” because memory costs had increased sharply. “We’re in what I would characterise as a 100-year flood on memory pricing,” Cook said. He added that Apple considers sales volumes, revenue and margins before making big decisions.
Cook was also highly positive about Siri AI. He said feedback from developers and public beta users had been “overwhelmingly positive.” Apple may offer paid iCloud+ upgrades for customers who use the AI service heavily.
The earnings call also marked an important moment for Apple, as Cook confirmed it was his final earnings call as CEO. He said incoming CEO John Ternus is ready to lead the company into its “next era.” Cook also said that he has “never been more optimistic” about Apple’s future.